They obtain and manage capital, whether it’s private equity/debt, bank financing or personal capital.

The challenge was separating business from personal relationship.

I personally like the town of Oakhurst and the restrictions are less rigorous than Mariposa. 2.)

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

If the person stops making payments, they alas,  have to foreclose.

Quote from @Jaycee Greene: Hey Jaycee, we currently lend on several loan types: Fix & Flip up to 90% LTP, BRRRR, New Construction, Bridge Loans, & Multi-Family.For myself personally, I'm looking in the Orlando, Philadelphia, and Southern NJ markets, 1-4 units.

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

I had the initial call with a PadSplit sales person, but I wanted to talk to somebody who's actually doing it to get their perspective and advice.

I'd personally sell the townhouse (doesn't sound like it cashflows or would make a good rental property) - you may have no capital gains if you have lived in it the past 2 out of 5 years - I believe the first 250k for single filers is exempt from taxes and the first 500k for married couples.

The absence of a personal guarantee from any disqualified persons is still required, just as with third-party financing.